Market Overview
The current price of Solana (SOL) is $205.4. The recent upward trend is strong, but it is currently encountering resistance near $225, showing signs of a pullback. Overall, SOL is still in a bullish trend, but faces short-term pressure. The following is a technical analysis of the daily, four-hour and one-hour lines, as well as today's operation suggestions.
Daily Line Analysis
On the daily chart, Solana has rebounded since early November, and the short-term moving averages (such as the 10-day moving average) and the medium-term moving averages (such as the 30-day moving average) are still in a bullish arrangement, and the trend is relatively positive. The MA10 (195.68) and MA30 (176.25) moving averages diverge upward, providing some support for the price. However, the current price has fallen from the high of $225, and the K-line has a negative line, indicating that the strength of the bulls' upward attack has weakened.
On the MACD indicator, the DIF and DEA lines are running above the zero axis. Although the momentum column remains positive, there are signs of shrinkage, indicating that the upward momentum has begun to weaken. The daily RSI indicator is oscillating at the edge of the overbought range, and may face certain callback pressure in the short term.
Four-hour line analysis
On the four-hour chart, Solana's price gradually fell after encountering strong resistance in the $225 area, and is currently consolidating below the 10-period moving average. Bullish sentiment has weakened in the short term. MA10 has gradually flattened, the DIF line and DEA line of the MACD indicator have begun to cross, and the momentum column has gradually turned from positive to negative, indicating that there is a possibility of continued adjustment in the short term.
The RSI indicator fell back from the overbought range to the neutral zone, indicating that short-term buying power is fading. The four-hour line analysis shows that Solana may continue to fluctuate in the $200-210 range in the short term, waiting for the market to choose a direction.
One-hour line analysis
On the one-hour chart, SOL price fell rapidly after being blocked at $225, and is currently hovering around $205. The short-term moving average system has shown signs of weakening, and the MACD indicator continues to be below the zero axis, indicating that the short-term market is bearish. The momentum column shows a gradual enlargement trend, indicating that the short-selling force has increased.
The RSI indicator is currently running below 50, showing heavy selling pressure in the short term. If the price continues to fall, the support near $200 will be very critical.
Recommendations
Steady operation: Buy low near $200 and set the stop loss below $195. If the market stabilizes and rebounds, the target can be seen in the range of $215 to $220.
Aggressive strategy: If SOL rebounds and breaks through $210 and stabilizes, you can follow up with long orders with a light position, with the target above $220, but you need to pay close attention to market trends. If the price falls below $205 again, you should stop loss and exit in time.
Risk control: In the short term, SOL is in a correction from a high level, so you need to be cautious in your operations. It is recommended to control your position, strictly control stop loss, and avoid chasing high prices.
Summarize
Currently, Solana may continue to fluctuate at a high level or make a small correction in the short term. Investors are advised to operate with caution and pay attention to the support of $200.
